5 tips Export Market Research international market search for Export Buyer
Learn Today 5 tips Export Market Research international market search for Export Buyer with Video.
Export Market Research – कहा मिलेगा आपको अपने प्रोडक्ट के लिए Export Buyer
किस देश में आप अपने प्रोडक्ट को बेच सकते हो
Export market research is the process of gathering and evaluating information in the target foreign market with the objective of identifying market opportunities and constraints.
Export Market Research Tips and Advice
To be successful, exporters must assess their markets through export research.
Exporters engage in export research primarily to identify their marketing opportunities and constraints within individual foreign markets and also to identify and find prospective buyers and customers.
Export Market research includes all methods that a company uses to determine which foreign markets have the best potential for its export products. Results of this research inform the firm of
- the largest export / international markets for its product,
- the fastest growing export – foreign markets,
- International market trends and outlook,
- Foreign market conditions and practices, and
- Export competitive firms and International standard products.
A key challenge facing would-be exporters is the scarcity of reliable trade intelligence on export markets. Exporters need to stay abreast of competitive conditions in their current markets, scan opportunities for new or emerging markets, as well as look for opportunities to diversify or value-add to their existing product range. At the same time importers worldwide also seek to optimize the potential offered by preferential trade agreements and improve the efficiency of their sourcing by scanning for new and competitive supplier export countries.
A firm may begin to export without conducting any export market research if it receives unsolicited orders from abroad. Although this type of selling is valuable, the firm may discover even more promising markets by conducting a systematic search. A firm that opts to export indirectly by using an intermediary may wish to select markets to enter before selecting the intermediary, since many intermediaries have strengths in some markets but not in others.
A firm may research a export market by using either primary or secondary data resources. In conducting primary market research, a company collects data directly from the foreign marketplace through interviews, surveys, and other direct contact with representatives and potential buyers. Primary market research has the advantage of being tailored to the company’s needs and provides answers to specific questions, but the collection of such data is time-consuming and expensive.
The exporting company may find the following approach useful.
1. Screen potential export markets.
Step 1. Obtain export market statistics that indicate product exports to various countries.
Step 2. Identify 5 to 10 large and fast-growing export / international markets for the firm’s product. Look at them over the past three to five years. Has market growth been consistent year to year? Did import growth occur even during periods of economic recession? If not, did growth resume with economic recovery?
Step 3. Identify some smaller but fast-emerging export markets that may provide ground-floor opportunities. If the market is just beginning to open up, there may be fewer competitors than in established markets. Growth rates should be substantially higher in these countries to qualify as up-and-coming markets, given the lower starting point.
Step 4. Target three to five of the most statistically promising international markets for further assessment. Consult with business associates, freight forwarders, and others to help refine targeted export markets
The first step in entering an export market is to create a comprehensive global plan that looks at both opportunities and potential risks.
Few More steps for Export Market research for Export Buyer data
- Make a list of Desire export Country
- Now Make list of State of your desire export country
- Now lookout Customer Lobby in State as per your Product.
- Pinch Your Product in right export market buyer lobby.
- Always make list of buyer with State and Country
The Biz Solution Team also provide Mandatory Export Documents For Export Food Product –
- Company – Firm Incorporation
- Import Export Certificate – IEC Code
- Export Promotion Counciles – RCMC
- Goods & Service Tax Registration – GST
- MSME Registration
- FSSAI – Food Licence Registration